The Nigerian National Petroleum Company Limited (NNPCL) has announced that the country’s crude oil production is on track to hit 1.8 million barrels per day (bpd) before the end of 2025, signaling a major boost for Nigeria’s energy sector.
The Group Chief Executive Officer of NNPCL, Bashir Ojulari, disclosed this on Sunday after briefing President Bola Tinubu at the State House, Abuja.
Ojulari said production had already risen to 1.68 million bpd in September — the highest level in five years — while gas output also reached a record seven billion cubic feet per day.
“Mr President gave us a clear mandate to ramp up crude output to at least two million barrels per day by 2027 and three million by 2030,” Ojulari said. “Following the maintenance work completed in August and September, we expect to reach 1.8 million barrels daily by year-end, assuming no major disruptions.”
He also addressed the recent industrial dispute involving the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Petroleum Refinery, which he said led to a deferment of more than 200,000 barrels per day in production and disrupted about 1,200 megawatts of electricity generation.
Ojulari commended the interventions of Labour Minister Muhammad Dingyadi and National Security Adviser Nuhu Ribadu, whose efforts, he noted, ensured the swift resolution of the dispute and restoration of output.
Gas price spike ‘artificial’
Commenting on recent complaints about the surge in cooking gas prices, the NNPCL chief described the situation as temporary and “relatively artificial,” attributing it to short-term supply chain disruptions linked to the industrial action.
“There were delays in loading and distribution for two to three days, which some market players exploited,” he explained. “Now that things have stabilised, we expect prices to return to normal levels shortly.”